[Marxism] Fwd: ASSA 2018 – part one: globalisation, inequality and populism | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Sun Jan 7 05:53:29 MST 2018

ASSA 2018 is the annual conference of the American Economic Association, 
drawing together the economics profession in the US to discuss hundreds 
of papers and debate the key issues and ideas that mainstream economics 
considers.  This year in freezing Philadelphia, there has been an 
obsession with President Trump, his antics and ‘Trumponomics’ if we can 
call it that.  As Trump launched his latest tirade of weird tweets 
against a new book outlining his mentally unstable antics, the great and 
good of America’s mainstream economists considered his economic policies.

And they were worried.  Three things gripped the mainstream.  The first 
was the apparent failure of globalisation since the Great Recession; the 
poor level of productivity growth in the major capitalist economies in 
the last ten years; and the effectiveness of Trump’s proclaimed 
protectionist trade policy that he has combined with slashing reductions 
in taxation on the US corporate sector and his rich elite friends.

It seems that the mainstream is now aware that free trade and free 
movement of capital that has accelerated globally over the last 30 years 
has not led to gains for all – contrary to the mainstream economic 
theory of comparative advantage and competition.


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